Mack-Cali Realty Corporation (NYSE:CLI) was downgraded by Stifel Nicolaus from a “buy” rating to a “sell” rating in a research note issued on Wednesday.

Other equities analysts have also issued research reports about the stock. Barclays PLC reduced their target price on shares of Mack-Cali Realty Corporation from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, August 18th. Zacks Investment Research cut shares of Mack-Cali Realty Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. ValuEngine raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. raised shares of Mack-Cali Realty Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Mack-Cali Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.43.

Mack-Cali Realty Corporation (NYSE CLI) traded down $1.55 during mid-day trading on Wednesday, hitting $21.57. 1,025,683 shares of the company traded hands, compared to its average volume of 480,708. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.02 and a current ratio of 1.02. Mack-Cali Realty Corporation has a 52 week low of $22.23 and a 52 week high of $29.70. The company has a market cap of $2,078.80, a price-to-earnings ratio of 10.14, a P/E/G ratio of 2.53 and a beta of 1.21.

Mack-Cali Realty Corporation (NYSE:CLI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Mack-Cali Realty Corporation had a negative net margin of 3.31% and a negative return on equity of 1.21%. The business had revenue of $160.02 million for the quarter, compared to the consensus estimate of $156.18 million. During the same period in the prior year, the business posted $0.60 EPS. Mack-Cali Realty Corporation’s revenue for the quarter was up 1.6% on a year-over-year basis. equities analysts predict that Mack-Cali Realty Corporation will post 2.26 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of CLI. Bank of New York Mellon Corp lifted its position in shares of Mack-Cali Realty Corporation by 53.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,548,255 shares of the real estate investment trust’s stock worth $131,549,000 after purchasing an additional 1,932,241 shares during the period. Balyasny Asset Management LLC lifted its position in Mack-Cali Realty Corporation by 95.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 673,960 shares of the real estate investment trust’s stock valued at $18,291,000 after acquiring an additional 329,201 shares during the period. Marshall Wace North America L.P. purchased a new position in Mack-Cali Realty Corporation during the 2nd quarter valued at about $8,404,000. Renaissance Technologies LLC lifted its position in Mack-Cali Realty Corporation by 22.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,682,201 shares of the real estate investment trust’s stock valued at $45,655,000 after acquiring an additional 307,701 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Mack-Cali Realty Corporation by 128.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 543,201 shares of the real estate investment trust’s stock valued at $14,748,000 after acquiring an additional 305,832 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

About Mack-Cali Realty Corporation

Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.

Analyst Recommendations for Mack-Cali Realty Corporation (NYSE:CLI)

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